Budget 2023: Here's a list of key announcements made by finance minister Nirmala Sitharaman

Union Budget 2023-24: From tax relief to capex thrust, here's what FM Sitharaman proposed for the fiscal year 2023-24 starting

Published on Feb 01, 2023 04:33 PM IST 8 Photos

Union Finance Minister Nirmala Sitharaman on Wednesday presented the Union Budget 2023-24 in Parliament. In her speech, she announced that the government proposes to increase capital expenditure outlay by 33 per cent to 10 lakh crore in 2023-24, which would be 3.3 per cent of the GDP. (ANI)

"(This overall outlay) would be 3.3 per cent of GDP, almost three times the outlay made in 2019-20. With the substantial increase, it is central to the government's efforts to enhance growth potential and job creation, the crowd in private investments and provides a cushion against global headwinds," Sitharaman said in her Budget speech. (ANI)

For the agriculture sector, the government has proposed to increase the credit target to 20 lakh crore with a focus on animal husbandry, dairy and fisheries. (ANI)


Finance minister Nirmala Sitharaman announced an increase in the income tax rebate limit from 5 lakh to 7 lakh stating that the new tax regime will now be the default tax regime. (REUTERS)

The finance minister also proposed to change the tax structure in this regime by reducing the number of tax slabs to 5 and increasing the tax exemption limit to 3 lakh. (ANI)